Royal Bank of Canada Boosts Skyline Champion (NYSE:SKY) Price Target to $88.00

Skyline Champion (NYSE:SKY - Free Report) had its price objective upped by Royal Bank of Canada from $82.00 to $88.00 in a research note published on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages also recently commented on SKY. StockNews.com upgraded shares of Skyline Champion from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Jefferies Financial Group lifted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Barclays boosted their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. Wedbush restated a "neutral" rating and set a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Finally, Craig Hallum boosted their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $84.40.

Skyline Champion Stock Up 0.6 %

Shares of SKY stock traded up $0.56 on Wednesday, hitting $90.00. The company's stock had a trading volume of 360,298 shares, compared to its average volume of 357,418. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57. Skyline Champion has a fifty-two week low of $52.12 and a fifty-two week high of $101.39. The firm's fifty day moving average price is $92.55 and its 200-day moving average price is $81.36. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 34.94 and a beta of 1.57.

Skyline Champion (NYSE:SKY - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. The firm had revenue of $616.88 million for the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business's quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. Research analysts anticipate that Skyline Champion will post 3.01 EPS for the current year.

Insider Activity

In other news, Director Michael B. Berman sold 3,496 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $82.34, for a total value of $287,860.64. Following the transaction, the director now owns 8,099 shares of the company's stock, valued at approximately $666,871.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Erin Mulligan Nelson sold 1,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $83.18, for a total value of $83,180.00. Following the sale, the director now directly owns 5,170 shares in the company, valued at $430,040.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael B. Berman sold 3,496 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $82.34, for a total transaction of $287,860.64. Following the completion of the sale, the director now owns 8,099 shares in the company, valued at $666,871.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,636 shares of company stock worth $14,582,253. Corporate insiders own 6.90% of the company's stock.

Institutional Trading of Skyline Champion

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Skyline Champion during the 1st quarter worth approximately $63,000. nVerses Capital LLC acquired a new stake in shares of Skyline Champion in the third quarter valued at approximately $76,000. Kessler Investment Group LLC raised its holdings in shares of Skyline Champion by 41.0% in the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company's stock valued at $151,000 after purchasing an additional 647 shares during the last quarter. CWM LLC raised its holdings in shares of Skyline Champion by 7.4% in the third quarter. CWM LLC now owns 2,286 shares of the company's stock valued at $217,000 after purchasing an additional 158 shares during the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of Skyline Champion in the third quarter valued at $225,000.

Skyline Champion Company Profile

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.